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FASB proposes goodwill impairment triggering event alternative

FASB proposes goodwill impairment triggering event alternative

FASB proposes a goodwill impairment triggering event alternative for certain private companies and not-for-profit entities.
COVID-19 relief Act extends and improves many credits and incentives

COVID-19 relief Act extends and improves many credits and incentives

The 2021 Consolidated Appropriations Act passes Congress and includes many extended and improved tax credits and incentives.
A business guide to the December coronavirus relief package

A business guide to the December coronavirus relief package

The package provides additional funding for the Paycheck Protection Program and allows certain borrowers to draw second round of PPP funding
PPP Loan Forgiveness and Tax Planning

PPP Loan Forgiveness and Tax Planning

Recent guidance from the IRS concerning PPP loan expense deductions may have a significant effect on when you apply for forgiveness and how to maximize your loan forgiveness amount. In this video, we will share the latest IRS guidance on expense deductions, their potential impact on the amount of forgiveness you may receive, and some basics of the loan application process.
Directors reflect on how a vaccine and the election will shape 2021

Directors reflect on how a vaccine and the election will shape 2021

After the US presidential election and looking ahead to a new year, most companies are still wondering when the world will return to normal.
Changing landscape of pandemic relief for health care providers

Changing landscape of pandemic relief for health care providers

If health care providers can’t support the receipt of pandemic relief funds, there will be significant questions about their sustainability.
Tax Policy Now: Year-end tax planning and Paycheck Protection Program

Tax Policy Now: Year-end tax planning and Paycheck Protection Program

PPP borrowers cannot deduct business expenses funded by a forgiven loan, but additional legislative action could permit such deductions.
PPP borrowers may need to extend returns and forgiveness applications

PPP borrowers may need to extend returns and forgiveness applications

PPP borrowers, especially fiscal year taxpayers, should consider extending tax returns and delay loan forgiveness filing (unless necessary).
GASB proposes implementation guidance

GASB proposes implementation guidance

The GASB recently released a proposed implementation guide to address a wide array of practice issues related to GASB Statements.
COVID-19: Clarification on interagency statement on loan modifications

COVID-19: Clarification on interagency statement on loan modifications

Clarifications have been provided on the interagency statement on loan modifications for customers affected by COVID-19.
Audit & Accounting Guide:

Audit & Accounting Guide:

An updated AICPA guide addresses the unique aspects of the preparation and auditing of financial institution financial statements.
Audit & Accounting Guide for employee benefit plans updated

Audit & Accounting Guide for employee benefit plans updated

An updated AICPA guide addresses the unique aspects of the preparation and auditing of employee benefit plan financial statements.
New edition: Accounting for debt modifications and restructurings

New edition: Accounting for debt modifications and restructurings

We have published a new edition of our guide regarding the accounting for debt modifications, restructurings and exchanges.
FASB to propose goodwill impairment triggering event alternative

FASB to propose goodwill impairment triggering event alternative

The FASB will propose an ASU that would provide a goodwill impairment triggering event alternative for certain entities.
Policy snapshot: Real estate

Policy snapshot: Real estate

Based on Biden’s campaign platform, long-term capital gains, currently taxed at 20%, would be taxed at ordinary income rates.